Kennametal profit drops, but tops forecast

LONDON (MarketWatch) -- Kennametal
KMT, -1.23%
said fiscal third-quarter net income fell to $23.2 million, or 30 cents a share, from $51.7 million, or 66 cents a share. Sales rose to $689.7 million from $615.9 million. On an adjusted basis, the Latrobe, Pa. firm said it earned 75 cents a share, at the top end of its own guidance. For the year, it sees earnings between $2.72 and $2.75 a share, compared to a previous target between $2.71 and $2.77 a share. Analysts polled by FactSet expected earnings of 73 cents a share for the quarter and $2.72 for the year.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.